Single Family Home Prices in Charlotte, NC

Single Family Home Prices in Charlotte, NC

 These are the numbers for the houses sold in the Charlotte area during the month of April, 2010.  There were 800 sold properties during the month of April and most of them were in the lower price ranges due to the first time home buyer tax credit.

If you aren't familiar with where the different areas are in Charlotte...picture a pie with 9 slices.  Area 1 is to the north, Huntersville, and the areas go clockwise around the city.  Area 5 is SouthPark, Myers Park, and down towards Ballantyne.  Area 6 is Dilworth, Sedgefield, Madison Park.

What was interesting about the numbers for the month of April was that for several areas, the average sales price was higher than the average list price.  I think this was caused by sellers offering first time home buyers enough money to cover closing costs and it was caused by new construction offering incentives and upgrades that raise the sales price well above the list price.

The average days on market for these sold houses was 99 day.  This is around the normal range in this market.  

A large wave of buyers that were taking advantage of the tax credits have passed.  I expect the number of sales to drop dramatically for the month of May nation wide.  After two great months of sales, it is normal to have a slower month.  There is no doubt that there are still too many distressed properties in this market and these properties are pulling down the prices in select areas.